Los Angeles comes at a distant third with $890 million, while Berlin and San Francisco allegedly saw $510 million in impact each.

The numbers come as a result of Airbnb's decision to increase transparency after costly battles around the country about how its business model affects housing stock in low vacancy rates.

New York's City Council recently proposed a series of strict reforms, including penalty increase for violating a 2010 law that bans renting out an apartment for less than 30 days without a tenant in the home during the rental.

The fines would jump to between $10,000 and $50,000 from the current $1,600 to $25,000.